How to Avoid Foreclosure Rescue Scams

NeighborWorks America, of which NHS of Baltimore is a chartered member, offers these quick tips to avoid foreclosure rescue scams.

1. When you need help with a possible foreclosure on your home, don’t hesitate to contact your local NeighborWorks organization or other HUD-approved nonprofit housing counseling agency for free foreclosure counseling. To find a local NeighborWorks organization near you, visit www.nw.org.

2. If you feel more comfortable speaking to a counselor over the phone, call the Homeowner’s HOPE Hotline at 888-995-HOPE for free foreclosure prevention counseling by expert counselors at HUD-approved nonprofit counseling agencies. The hotline is open 24 hours a day, seven days a week.

3. Suspect any ad, person, or company that approaches you and claims to be able to “stop foreclosure now” for a fee.

4. Never release your financial information online or over the phone to a company you know nothing about.

5. Contact your mortgage lender. Contrary to what a foreclosure scammer will tell you, you should contact your lender the minute you have trouble making your monthly payment.